Economic Papers. 173. Latin America`s integration processes in the
... is signing FTAs with each of the NAFTA countries but also has a FTA with Mercosur and has in the past expressed interest in joining Mercosur. There are also a series of other bilateral FTAs connecting the countries in the continent. In addition, the largest Latin American countries (Mexico, Mercosur ...
... is signing FTAs with each of the NAFTA countries but also has a FTA with Mercosur and has in the past expressed interest in joining Mercosur. There are also a series of other bilateral FTAs connecting the countries in the continent. In addition, the largest Latin American countries (Mexico, Mercosur ...
NBER WORKING PAPER SERIES INTERNATIONAL BORROWING, CAPITAL CONTROLS AND THE EXCHANGE RATE:
... Prior to the debt crisis, most of Chile’s external debt was private (about 60%). Following the crisis, and in order to successfully renegotiate external debt, private debt received public guarantees. In addition, most of new foreign borrowing was done by the public sector. This caused a large drop i ...
... Prior to the debt crisis, most of Chile’s external debt was private (about 60%). Following the crisis, and in order to successfully renegotiate external debt, private debt received public guarantees. In addition, most of new foreign borrowing was done by the public sector. This caused a large drop i ...
MUCH ADO ABOUT NOTHING? THE RMB`S INCLUSION IN THE
... for new thinking along these lines. At an unofficial level, similar views were expressed by pundits and experts, such as the Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System (Helleiner 2014). For a little while, there see ...
... for new thinking along these lines. At an unofficial level, similar views were expressed by pundits and experts, such as the Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System (Helleiner 2014). For a little while, there see ...
Money, Interest Rates, and Exchange Rates
... • What is money? • Control of the supply of money • The demand for money • A model of real money balances and interest rates • A model of real money balances, interest rates and exchange rates • Long run effects of changes in money on prices, interest rates and exchange rates Copyright © 2006 Pearso ...
... • What is money? • Control of the supply of money • The demand for money • A model of real money balances and interest rates • A model of real money balances, interest rates and exchange rates • Long run effects of changes in money on prices, interest rates and exchange rates Copyright © 2006 Pearso ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Exchange Rate Theory and Practice
... The role of intervention policy is explored in the context of a discretetime stochastic model in which agents have rational expectations. The description of this model in section l l .2 reveals that it has two features which are especially important. First, intervention operations affect macroeconom ...
... The role of intervention policy is explored in the context of a discretetime stochastic model in which agents have rational expectations. The description of this model in section l l .2 reveals that it has two features which are especially important. First, intervention operations affect macroeconom ...
Tilburg University Theories on the scope for foreign exchange
... which is available from the author on request distinguishes between the domestic commercial banking system and the domestic non-bank private sector. Obviously, in theoretical models without a fractional reserve private banking system this distinction is not relevant. The earlier version of this pape ...
... which is available from the author on request distinguishes between the domestic commercial banking system and the domestic non-bank private sector. Obviously, in theoretical models without a fractional reserve private banking system this distinction is not relevant. The earlier version of this pape ...
Chapter 13
... • Nominal exchange rates – In the past, many currencies operated under a fixedexchange-rate system, in which exchange rates were determined by governments • The exchange rates were fixed because the central banks in those countries offered to buy or sell the currencies at the fixed exchange rate • E ...
... • Nominal exchange rates – In the past, many currencies operated under a fixedexchange-rate system, in which exchange rates were determined by governments • The exchange rates were fixed because the central banks in those countries offered to buy or sell the currencies at the fixed exchange rate • E ...
Exchange rate exposure among European firms
... to US dollar and separately the Australian dollar to the yen exchange rates, appear to be relatively rare exceptions. Second, exposure estimates have typically been based on a single, non-overlapping series of returns within the sample period, therefore failing to exploit the full price and currency ...
... to US dollar and separately the Australian dollar to the yen exchange rates, appear to be relatively rare exceptions. Second, exposure estimates have typically been based on a single, non-overlapping series of returns within the sample period, therefore failing to exploit the full price and currency ...
Leaving the euro: A practical guide
... union to dissolve the euro. Rather, there is substantial pressure on particular countries to leave it. It would seem extraordinary for the other members who wish to keep the euro to undergo all the costs of adjustment just to accommodate a minority of members – or perhaps only one member – which wan ...
... union to dissolve the euro. Rather, there is substantial pressure on particular countries to leave it. It would seem extraordinary for the other members who wish to keep the euro to undergo all the costs of adjustment just to accommodate a minority of members – or perhaps only one member – which wan ...
Pricing-to-Market - The Review of Economic Studies
... following sense. When prices are sticky in local currency, conditional on changing prices, producers choose markups such that the ratio of the markup in the foreign market to the markup in the home market increases one-for-one with home currency depreciations and decreases one-for-one with home curr ...
... following sense. When prices are sticky in local currency, conditional on changing prices, producers choose markups such that the ratio of the markup in the foreign market to the markup in the home market increases one-for-one with home currency depreciations and decreases one-for-one with home curr ...
WARWICK ECONOMIC RESEARCH PAPERS Trade Costs and the Open Macroeconomy No 778
... Trade costs have long been known as a major obstacle to international economic integration. In a recent survey, James Anderson and Eric van Wincoop (2004) show that empirical trade costs are large even when formal barriers to trade do not exist. They argue that the tari¤ equivalent of representative ...
... Trade costs have long been known as a major obstacle to international economic integration. In a recent survey, James Anderson and Eric van Wincoop (2004) show that empirical trade costs are large even when formal barriers to trade do not exist. They argue that the tari¤ equivalent of representative ...
Should Switzerland Adopt the Euro
... There exist different ways to deal with the safe haven issue. Among those that have been tried are the adoption of an exchange rate floor and the adoption of negative interest rates on deposits with the central bank. These measures do not seem to have stemmed the appreciation of the Swiss franc. As ...
... There exist different ways to deal with the safe haven issue. Among those that have been tried are the adoption of an exchange rate floor and the adoption of negative interest rates on deposits with the central bank. These measures do not seem to have stemmed the appreciation of the Swiss franc. As ...
Currency
A currency (from Middle English: curraunt, ""in circulation"", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.Other definitions of the term ""currency"" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency arose with the popularity of computers and the Internet.